Kuala Lumpur, 6 December 2019 - Sime Darby Plantation Berhad (SDP) would like to confirm that an outright divestment of SDP’s 100% equity stake in Sime Darby Plantation Liberia Inc. (SDPL) to Mano Palm Oil Industries (MPOI) has been approved by the SDP’s Board of Directors. This decision is part of SDP’s current asset monetisation exercise, which includes the divestment of underperforming assets or assets that have achieved its full value potential for disposal.
SDP would also like to confirm that the Government of Liberia has consented to the divestment of SDPL’s shares to MPOI.
SDP is currently working together with MPOI in finalising the terms and conditions of this divestment exercise via a Sale & Purchase Agreement which is targeted to be signed by the end of 2019, and the transaction is expected to be completed in the first quarter of 2020. Any further details and updates on this divestment exercise will be announced in due course.